Dec, 31, 2020 — ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) is a federal credit union headquartered in BLOOMFIELD, NJ with 1 branch location and about $15.42 million in total assets. Opened 85 years ago in 1936, ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) has about 2,506 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 125 FRANKLIN ST. BLOOMFIELD, NJ 07003-5730 |
| Phone: | (973) 748-8847 |
| Fax: | (973) 748-8846 |
| Website: | http://www.ectcu.org |
| Branches: | 1 branch locations |
| Members: | 2,506 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1131 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Feb 01, 2019 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $15,421,697 |
| CEO/Manager: | Robert D Steeves |
| Chairperson: | Kenneth King |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 654,279 |
| TOTAL INVESTMENTS | 5,062,865 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,525,876 |
| Unsecured Loans | 3,194,881 |
| Other Loans | 3,633,509 |
| TOTAL LOANS | 9,354,266 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -106,119 |
| Land And Building | 180,894 |
| Other Fixed Assets | 49,363 |
| NCUSIF Deposit | 118,578 |
| All Other Assets | 107,571 |
| TOTAL ASSETS | 15,421,697 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 236,212 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,483,326 |
| Regular shares | 10,246,514 |
| All Other Shares & Deposits | 2,263,484 |
| TOTAL SHARES & DEPOSITS | 13,993,324 |
| TOTAL LIABILITIES | 14,229,536 |
| Regular Reserve | 419,836 |
| Other Reserves | 0 |
| Undivided Earnings | 772,325 |
| TOTAL EQUITY | 1,192,161 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 15,421,697 |
| INCOME & EXPENSE | |
| Loan Income | 519,805 |
| Investment Income | 80,719 |
| Other Income | 113,811 |
| Total Employee Compensation & Benefits | 246,511 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 271,285 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 48,936 |
| Cost of Funds | 12,750 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 134,853 |
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